How To Register Your Own Business in the Philippines?
Posted by interbizconsulting on May 30th, 2020
If you have any new and unique idea, invest it into a business is essential. It may take you on the verge of success. For this, you should follow everything legally.
Corporation And It’s Benefits
The separate, as well as distinct legal entity regardless of its partners or owner, is called as Corporation. Here everyone has the same rights. It will follow the contracts, hire employees, loan, paying tax, etc.
The ownership is divided in terms of the stock. The person having more shares is called the owner of the corporation.
It has several benefits so that everyone is independent here and liability is not imposed on anyone. Whatever the liability and risk caused inside the corporation, none is personally liable. It is easy to increase the business through stocks and it may be passed to several owners. Every decision is taken by the board of directors’ panel.
Where To Go For Company Registration In the Philippines?
In the Philippines, there is a certain govt. bodies that help Business Registration in the Philippines for a company.
They are as follows:
• SEC(Securities and Exchange Commission)
Basic Steps To Follow During Registration
1. First of all, check if your chosen business name applies to SEC Online website. If applicable, initiate the registration for Company Formation in the Philippines, Mandaluyong office.
2. Next prepare the documents related to articles of laws and incorporation, owner’s affidavit, submit other documents related to the business, and next claim the certification during the registration at SEC office.
It may take almost one week for completion of the full procedure.
3. Next step is to get Barangay clearance in where your business will start-up. Fill up the application form.
For completion of the Barangay application, you need to carry SEC certificate, two valid id proofs, etc.
4. After Barangay clearance, you need Mayor’s permission in the local municipal corporation.
Here the rules are strict as you need to carry all related documents and ids. Example: SEC certificate, Barangay clearance, two valid id proof, address proof.
Follow-up with the above-mentioned steps to get a smooth registration idea for starting up a new business in the Philippines.
Web Link: https://inter-bizconsulting.com/Also See: Barangay Clearance, Valid Id, Unique Idea, Sec Certificate, Business, Philippines, Registration
Turn Your Hobby Into A Business
Whether you want a full time income, or are just trying to supplement your income with a side hustle, now is your chance to turn your hobby into a business!